Karachi: The price of sugar rose significantly in Pakistan earlier in December 2024, despite the government’s claiming a decline in the economic inflation in Pakistan.
Reports show that the price at old factories increased by Rs.10 per kilogram in the past 20 days, reaching as far as Rs.125 per kg.
However, small traders observed the retail price of sugar rose by Rs.15 per kg, from 125 to Rs.140 per kg. Sugar traders note that it is unusual for sugar prices to increase during the ongoing crushing season.
They explained that rumors about lower sugar production compared to last year created an artificial shortage. According to Geo News, the government has allowed the export of 790,000 tonnes of sugar, with 377,000 tonnes already exported.
In the last two weeks of November, production was only 13,000 tonnes per day, while the country’s daily consumption is between 18,000 and 20,000 tonnes.
The traders further added that it was not their fault that the sugar consumption inside the country was far more than the amount of sugar packages exported and that they lacked the necessary resources for extra sugar production.